The statue will face north toward Orlando Executive Airport so it won't offend nearby neighbors, city officials said.

"(We're) just trying to make sure that No. 1, it won't offend. We are not facing toward any neighborhood we can offend. We are working really hard to make sure this statue just became a piece of history," said Greenwood Cemetery Sexton Don Price.

RIGHT NOW: Orlando city tells me they found a time capsule inside the Confederate statute. It has been removed and is in city hall @WFTVpic.twitter.com/6uQQf4RWh6

"I think it's an opportunity to educate my kids on a frequent basis about all aspects of our history," he said. "It seems really unfortunate that we're bypassing such a large segment of our history in a place that's so central to Orlando."

Resident Wendy Boyd sees it differently.

"It's not like they are taking a wrecking ball to it and destroying it," she said. "I think they are moving it to a place where it's kind of being put to rest," Boyd said.